Software for Reverse Mortgages
Seattle Mortgage Company has updated its reverse mortgage software system and will be offering it to other lenders across the nation. Because reverse mortgages are a recent phenomenon, no comprehensive, reverse-mortgage specific software currently exists in the marketplace, according to Seattle.
The company's first version was created in the mid-90s and contracted out to banks across the nation. This second version includes new features such as live updates, calculation software, and advanced automation to reference up-to-the-minute changes in county loan limits and interest rates.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 6, 10/10
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